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White paper introducing Jack Dorsey’s decentralized Bitcoin exchange published on Friday -Breaking

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© Reuters

Jack Dorsey (co-founder) and CEO of Square and Twitter (NYSE :), was released White paper Friday detailing plans for Square’s decentralized (BTCtbDEX. This is not the case with most Decentralized exchangesThe trustless models, or DEXs of tbDEX, will not be used and tbDEX won’t have its own governance token. It’s a message protocol, which is designed to foster trust without any federation access.

The tbDEX will also include features that are far more decentralized than traditional DEXs. To comply with applicable regulations based on the user’s location, background knowledge-your-customer (or KYC) checks must be passed by all participants. The exchange can then be connected to users’ wallets. You can swap your coins one with the other.